HOW TO START AN E-COMMERCE BUSINESS IN 2024 (Beginners Guide)

Summary

In this video, Sam shares his journey of leaving his full-time job to build a successful e-commerce business that reached over a million pounds in sales. He offers a beginner's guide to starting an e-commerce business, discussing the importance of understanding e-commerce, choosing the right platform between eBay, Amazon, and Shopify, and focusing on one platform initially. Sam emphasizes the value of emulating successful sellers and using tools like Jungle Scout and Zeek Analytics for research. He also stresses the need to decide on products and find reliable suppliers, encouraging viewers to take the first step towards their e-commerce dreams.

Takeaways

• 😀 E-commerce is a lucrative online business model, allowing for significant income generation, as the speaker transitioned from a full-time job to a seven-figure e-commerce business.
• 💡 The initial steps in starting an e-commerce business include understanding the concept of e-commerce, which is trading goods for money online.
• 🛒 The choice of platform is crucial, with eBay, Amazon, and Shopify being the primary options. Each has its advantages and challenges, such as traffic availability and competition.
• 🏆 The speaker emphasizes focusing on one platform initially to build momentum and avoid spreading efforts too thin.
• 🚀 Starting with a platform you're familiar with can be beneficial, as understanding the buyer's perspective can streamline the selling process.
• 🔍 Researching successful sellers on your chosen platform can provide insights into profitable products and strategies to emulate.
• 📈 Utilizing tools like Jungle Scout for Amazon or Zeek Analytics for eBay can help in analyzing the performance of products and sellers.
• 💼 The importance of choosing evergreen products that have consistent demand over time is highlighted to ensure business longevity.
• 🔗 Finding a reliable supplier is a critical step, and Alibaba.com is suggested as a platform to find suppliers for your e-commerce products.
• 💪 Taking the first step is essential for success in e-commerce; watching videos and learning are helpful, but action is required to achieve results.

Q & A

What is the main focus of the video?

The main focus of the video is to serve as a guide for starting an e-commerce business, covering initial steps, mindset, and practical aspects to help beginners in their e-commerce journey.

Why does the speaker believe e-commerce is a good way to make money online?

The speaker believes e-commerce is a good way to make money online because it allowed him to leave his full-time job and grow his business to over seven figures in sales.

What are the three main platforms mentioned for starting an e-commerce business?

The three main platforms mentioned for starting an e-commerce business are eBay, Shopify, and Amazon.

What is the advantage of using eBay and Amazon as e-commerce platforms?

The advantage of using eBay and Amazon is that they are marketplaces with existing customer bases, which means you don't have to worry about attracting traffic to your store.

What is the main difference between selling on a marketplace like eBay or Amazon and using Shopify?

The main difference is that with Shopify, you have your own independent website and need to focus on attracting customers to your site, whereas eBay and Amazon provide the traffic as they are marketplaces.

Why is it recommended to focus on one platform initially when starting an e-commerce business?

Focusing on one platform initially is recommended to concentrate all your energy and effort into one area, increasing the chances of success before branching out to other platforms.

What is the significance of choosing a platform that you are familiar with when starting an e-commerce business?

Choosing a platform you are familiar with can make the process of setting up and running your e-commerce business easier, as you already understand the platform's mechanics and customer behavior.

What does the speaker suggest doing to emulate success in e-commerce?

The speaker suggests finding a successful seller or company on your chosen platform, studying their branding, product listings, and inventory, and using them as a blueprint for your own success.

How can one determine if a seller on Amazon or eBay is making money?

One can determine if a seller is making money by using tools like Jungle Scout for Amazon or Zeek Analytics for eBay, which provide insights into the seller's sales and profitability.

What is the importance of choosing the right products and finding a good supplier for an e-commerce business?

Choosing the right products and finding a good supplier is crucial as it directly impacts the success of your business. It ensures you have items that are in demand and are being supplied at a cost that allows for profit.

What is the final step the speaker discusses in the video for starting an e-commerce business?

The final step discussed is deciding on the exact products to sell and finding a supplier to source those items, which should be done after registering with the chosen e-commerce platform.

Outlines

00:00

📈 Introduction to E-commerce Business

The speaker, Sam, introduces the video as a guide for starting an e-commerce business, highlighting his own success in growing a seven-figure sales business. He emphasizes the importance of understanding the initial steps, mindset, and practical aspects of e-commerce. Sam shares his experience of leaving his full-time job due to his e-commerce success and outlines the video's agenda, which includes discussing the definition of e-commerce, choosing a platform, and the benefits and drawbacks of eBay, Amazon, and Shopify. He advises starting with one platform and building a business around products that are in demand.

05:02

🛒 Choosing the Right E-commerce Platform

Sam discusses the three main e-commerce platforms: eBay, Amazon, and Shopify. He explains that eBay and Amazon are marketplaces with existing customer bases, whereas Shopify requires creating an independent website. He suggests considering which platform one is most familiar with, using his own experience as a buyer on eBay before becoming a seller. Sam also recommends emulating successful sellers on the chosen platform to understand their strategies and product offerings. He demonstrates how to use tools like Jungle Scout and Zeek Analytics to research successful sellers on Amazon and eBay, respectively, and emphasizes the importance of selecting products that are in demand and have a proven market.

10:02

🔍 Researching and Selecting Products

In this section, Sam focuses on the process of deciding which products to sell and how to find a supplier. He advises using tools like Zeek Analytics to identify top-performing items in a seller's store and then sourcing these items from platforms like Alibaba. Sam emphasizes the importance of researching and selecting products that are selling well and have a potential for long-term demand. He also mentions that he has a step-by-step video and a free webinar on how to find a supplier on Alibaba, which he encourages viewers to check out. Lastly, he motivates viewers to take the first step towards their e-commerce journey after watching the video.

Keywords

💡E-commerce

E-commerce refers to the buying and selling of goods or services using the internet, and it is central to the video's theme. The speaker emphasizes that e-commerce involves trading goods for money online, which is a simple yet powerful concept that underpins the speaker's success and the video's educational purpose. The video provides insights into how to start and grow an e-commerce business, highlighting the importance of understanding e-commerce's fundamentals for aspiring entrepreneurs.

💡Platform

In the context of the video, 'platform' refers to the online marketplace or website where e-commerce transactions take place, such as eBay, Amazon, or Shopify. The speaker discusses the importance of choosing the right platform for an e-commerce business, as each offers different advantages and challenges. For instance, eBay and Amazon are marketplaces with existing customer bases, whereas Shopify requires business owners to build their own customer traffic.

💡Mindset

The term 'mindset' is used to describe the mental attitude or perspective necessary for success in e-commerce. The speaker suggests that having the right mindset is crucial for navigating the e-commerce journey. This includes being open to learning, adapting to changes, and focusing on providing value to customers, which are all essential for building a successful online business.

💡Seven-Figure Sales

The speaker mentions achieving 'seven-figure sales,' which means earning over one million pounds in revenue. This serves as a motivational example for viewers, illustrating what is possible in e-commerce with the right approach and effort. The video aims to guide viewers on how to potentially replicate this level of success by understanding and applying the strategies discussed.

💡Marketplace

A 'marketplace' in e-commerce is a platform that facilitates transactions between buyers and sellers. The video explains that eBay and Amazon are examples of marketplaces, where sellers can leverage the platforms' existing customer traffic. This is contrasted with having an independent website, where sellers must drive their own traffic, as with Shopify.

💡Supplier

A 'supplier' is a company or individual that provides the products that an e-commerce business sells. The video emphasizes the importance of finding reliable suppliers to source products, which is a critical step in establishing and scaling an e-commerce business. The speaker suggests using Alibaba.com to find suppliers and provides guidance on how to select the right one.

💡Product Research

Product research involves analyzing market trends, customer demand, and competition to identify potential products to sell. The video discusses the use of tools like Jungle Scout and Zeek Analytics for product research on Amazon and eBay, respectively. This research helps e-commerce entrepreneurs understand what products are selling well and which might be profitable for their own stores.

💡Branding

Branding in the context of e-commerce refers to the process of creating a unique identity for a business and its products. The speaker advises studying successful sellers' branding strategies, such as their store design and product presentation, to emulate their success. Effective branding helps businesses stand out and build customer loyalty.

💡Inventory

Inventory management is the process of overseeing the products a business has in stock. The video suggests that building an inventory base by studying successful sellers' product offerings is a strategic move. It involves understanding which products are in demand and stocking them to meet customer needs, which is essential for the operational efficiency of an e-commerce business.

💡Paid Ads

Paid ads are a form of online advertising where businesses pay to have their products or services promoted on various platforms. The video contrasts the need for paid ads on an independent Shopify site, where businesses must actively attract customers, with marketplace platforms like eBay and Amazon, which offer organic traffic. Understanding the role of paid advertising is crucial for businesses looking to drive traffic and sales.

Highlights

E-commerce is one of the best ways to make money online.

The speaker was able to leave their full-time job due to a successful e-commerce business.

The video aims to help beginners start their e-commerce journey with practical advice.

E-commerce is defined as trading goods for money on the internet.

Choosing products that people need is crucial for building a long-term business.

Three main platforms for e-commerce are eBay, Shopify, and Amazon.

eBay and Amazon are marketplaces with existing customer bases.

Shopify requires thinking about customer acquisition for an independent website.

Focusing on one platform initially is recommended for beginners.

The choice of platform should be based on familiarity and comfort.

Emulating successful sellers on chosen platforms can lead to success.

Using tools like Jungle Scout and Zeek Analytics can help analyze successful sellers.

It's important to find suppliers on platforms like Alibaba for product sourcing.

The video provides a step-by-step guide on how to find a profitable supplier.

Taking the first step after learning is essential for success in e-commerce.

Transcripts

i want this video to serve as a basic

guide for anyone out there that's

looking to start an e-commerce business

now i truly believe that e-commerce

business is one of the best ways to make

money online i was able to leave my

full-time job around four or five years

ago mainly due to the fact that i

started an e-commerce business that was

able to grow to over seven figures in

sales which is over a million pounds so

this video is going to be able to help

any beginner out there that's thinking

about starting an e-commerce business

because i want to go for the initial

steps that you need to be aware of some

mindset things as well as some practical

things that's going to help you out on

your e-commerce journey let's go

what is going on people welcome back to

my channel if you're new my name is sam

and what i do here is break down various

different tips and tricks when it comes

to making money online in today's video

what i'm going to be doing is going

through four maybe five different things

that you need to know before you start

your e-commerce business these are the

things that i wish i knew before i

started many years ago because it would

have just sped up the process it would

have allowed me to realize certain

things that would have helped me out in

the early days and ultimately helped me

make a lot more money over my entire

ecommerce journey so far so make sure

you stick around to the end so that you

don't miss anything as always i don't

waste any more time i want to get right

into it if you find any value in the

video at any point don't forget to press

the like button really helps out the

channel i really appreciate that thank

you so much don't forget to subscribe as

well hit the bell notification so that

youtube can let you know when a new

video has been released let's not waste

any more time let's get right into it

alright so first things first what

exactly does e-commerce mean what's the

true definition of it so i'm going to

give you my definition for anyone that's

new to the world of e-commerce and wants

to get a better understanding of what it

means so to me it basically means you're

going to be doing commerce online so

commerce is essentially trading goods

for money so e-commerce is trading goods

for money on the internet so that's

basically what it means very simple

you're essentially going to build a

business that's going to sell physical

products to people that want to buy

those physical products and it's very

important for you to be aware of this

because once you understand exactly what

e-commerce is you're going to be able to

now approach it with the right mindset

as soon as i realized what it truly

meant that's when i now started building

the foundations of my e-commerce stores

around products that people actually

needed because i knew that that's where

i was going to be able to build a

long-term business so that's one of the

first most important things i want you

guys to be aware of try to make sure

that whatever business you're going to

build it's items that people need and

they're going to need today and they're

most likely going to need five years

time maybe 10 years time

so one of the first things that you're

going to need to think about is which

platform that you're going to choose to

build your business on now there's

various different ones that you can

choose from but the three main ones is

either ebay shopify or amazon so these

are the three that i personally use with

all of my businesses and ebay and amazon

and marketplaces however shopify is

gonna be your own independent website

and this is important to know because

this is going to influence which

direction that you're gonna take when it

comes to choosing an initial platform

now when i say that ebay and amazon are

both marketplaces what that means is

you're not going to have to think about

getting people over to your store

because ebay and amazon have already

built up a customer base that visit

those websites on a consistent daily

weekly and monthly basis however if you

decide to go down the direction of

building your own shopify website you're

going to have to think about how you're

going to get customers onto your website

so these are a few things that you need

to think about before you decide on

building up your e-commerce business now

one thing that i will tell you before

you even do anything is that you need to

make sure that you focus on just one

platform this is something that you

should do initially and this is

something that i did i started off my

e-commerce journey by selling on ebay i

built that up to around fifty thousand

dollars per month maybe sixty thousand

dollars per month and then i realized

that it wasn't really safe for me to

rely on just one platform that's when i

now branched out to amazon and shopify

but if you're completely new to the

world of building up online businesses

you need to make sure that you put all

your focus all your energy and all your

effort into one platform initially

because if you try and focus on various

different things at the same time that's

where you're not going to be able to see

any success at all now you're probably

asking yourself but sam which one do i

choose ebay amazon or shopify now i

can't give you a direct answer for that

all i can really do is give you some

advantages and some disadvantages of all

three so that you guys could go away

think about it and decide on which one

that you're going to put your energy

into initially so the main benefit with

ebay and amazon is the same thing you're

going to be able to benefit from the

free traffic that passes through on a

daily basis so you don't have to worry

about using any paid ads to get your

store up and running however the

disadvantage is that you're gonna have

to deal with competition now the

differences between ebay and amazon is

that in my opinion i believe that ebay

is a little bit easier to get started

which means that within a couple weeks

you're going to be able to get your

store up and running however amazon is

somewhat a little bit tricky when it

comes to getting things up and going but

at the same time you're going to be able

to maybe get your store up and go in

within a month maybe four weeks

depending on how fast amazon approved

your application ebay don't necessarily

have to approve any applications you're

going to be able to get started get

things selling maybe within the first

week or so the main benefit to shopify i

would say is that it's your own website

it's your own asset which means that you

own it there's not much competition

because it's only your website that

customers are going to be on when it

comes to them deciding on whether they

want to buy from you or not however the

main disadvantage is that once you get

your store set up you now have to think

about how you're going to get customers

onto your website whether through paid

ads which is not really a bad thing but

it's just something that you need to

consider and it's just one of the main

differences between shopify and ebay and

amazon but one of the most important

factors that you should consider before

deciding on any one of these platforms

is that you should ask yourself which

one are you more familiar with for me

many years ago i was a buyer on ebay

which meant that when it came time for

me to be a seller it was a lot more

easier for me to get things started

because i understood how things worked

from a buyer's perspective so if you

shop on amazon regularly but you've

never ever shopped on ebay then it might

make more sense for you to go with

amazon because you're going to

understand exactly how to structure

things or if you shop on ebay more often

than amazon it may be better for you to

start with ebay because one of the most

common things that i've noticed amongst

a lot of the e-commerce millionaires is

that they were actually buyers before

they started to build their business

which meant that they understood how to

market their business in the best way

how to do things in a way to convince

any potential buyer to buy from them

rather than a different seller so this

might be something else that you might

want to consider when it comes to

choosing whatever platform that you're

going to build your e-commerce business

on

so moving on to under the next things

that you need to do when it comes to

building your e-commerce business which

is that you need to go into whatever

platform you've decided to use and find

a seller or find a company that is

selling similar products to what you see

yourself selling in the future and then

what you're going to do from that point

is emulate their success now i'm not

saying that you should copy them

outright and copy their store but you

can copy their products and you can copy

the success that they've had and the

reason why i know that this works is

because before i even sold any item on

ebay i found a seller that was doing

over a million dollars per month selling

a particular item within a specific

category and even though i wasn't

selling at this point i could see myself

in the future selling those exact same

items and because i knew that they were

successful by selling these items i knew

that i could also be successful too so

what i started doing is studying the way

that they branded their store studied

the way that they listed their items

studied the type of items that they were

selling and i slowly built up my

inventory base trying to emulate the

type of inventory that they were selling

and even though at the beginning i

wasn't selling anything eventually i was

able to build my ebay store up to over

seven figures and sales so this is why i

always advise anyone that's looking to

build an ecom store to find a company

that's bigger than you a company that

you can see yourself running in the

future and use them as a blueprint to

your own success so i'm going to quickly

jump into the laptop now and show you

two examples of two different companies

one on ebay one on amazon and i'm going

to show you exactly what you need to do

when it comes to understanding how you

can see exactly how much money they're

making what type of items they're

selling and then from there you can go

away and start building your own

e-commerce business so first things

first we're going to start off on amazon

and i've come across this store right

here and they're called igloo meal prep

so these are the type of items that

they're selling right here so let's say

for example i was interested in selling

these food storage containers and i

wanted to build a similar business to

this and i was inspired by this and i

looked at this and i was like wow this

is amazing i want to run this type of

business in the next two years one of

the first things that i'll do is double

check to see if they're actually making

money so what i'll do is just click on

any one of their items ideally one that

has the most reviews so i might click on

this one right here and then the next

thing that i'll do is come up here to my

extensions and click on my jungle scout

extension tool and by the way jungle

scout is an amazon product research tool

that helps you do various different bits

of research when it comes to finding the

best product to sell and right there as

you can see they're able to show me that

with this one item this seller is able

to make 60 free 000 pounds so imagine if

i now double check all the other items

that they're selling they're potentially

making over 100 grand on amazon by

selling these food storage containers so

if i was a beginner that was looking to

build a brand new store this right here

would inspire me to go away try and find

a supplier and try and build my store

with similar branding not the exact same

one but build my own company but use

this one as inspiration to get me to the

point that they're at right now and you

can also do the same thing with ebay too

so i'm on this ebay seller store and as

we can see they've sold over 2.1 million

individual items and their store is

called direct lighting and they

basically sell light bulbs and all of

these different things so let's say for

example i wanted to build an ebay store

that sold light bulbs because i know

that this is a long-term product people

are going to need it over the next five

years 10 years because light bulbs

haven't really changed over the past 10

20 30 years from what i know anyway so

what i'll do is i'll copy their username

just like that and then i'll head over

to zeek analytics which is a product

research tool specifically for ebay and

then from there i'm going to be able to

see how much money this ebay seller is

making all right so i'm on z analytics

right now i've typed in direct lighting

and as you can see in the last 30 days

they've been able to sell over 130

000 pounds worth of goods which is

around 150 000 so straight away this is

a strong indication right here that i

should also build a store that sells

light bulbs because they're making money

which means that i may be able to make a

fraction of what they're making maybe

even twenty thousand pounds per month

maybe thirty thousand pounds a month who

knows

and just to clarify the main point i'm

trying to make with this stage right

here is that you wanna make sure that

you're actually finding the sellers that

are making money as well as finding the

sellers that are selling the right items

you don't want to build your store

selling items where people are not even

buying them so make sure that you do the

right research before doing anything

else and if you want to sign up to

either zika analytics or jungle scout

i've got trial links as well as

discounted links in my description down

below

and moving on to one of the final steps

that you need to be aware of when it

comes to starting your e-commerce

business that i'm going to speak about

in this video is that you now need to

decide on which exact products you're

going to sell and exactly how you're

going to find the supplier that's going

to source you with those items now

obviously the step that i'm going to

speak about now needs to be done after

you've signed up and you've registered

to whatever platform you decided to go

with but once you've done all of that

you now need to figure out exactly which

product you're going to sell so let's

say for example you decided to go with

ebay sticking on zeke analytics what

they're going to be able to show you is

the top performing items in any seller

store so as we can see these are the top

50 items in this ebay seller store right

here and what i'll personally do from

this point is look at the top five best

performing items so as we can see right

here there's a ceiling spotlight there

is a led light bulb over here there is

another led frosted candle light etc etc

and we can see that with all of these

individual items they've been able to

sell over 549 in the last month 349 282

of each different one so these would be

the exact same items that i would look

to add to my own store to get things

going because i know that they're

obviously performing well but the way

that i will find the supplier is by

going over to alibaba.com and there's a

certain step-by-step process that you

need to follow when it comes to knowing

exactly which supplier is the best one

and which one you should go with now i'm

not going to go too much into detail in

today's video otherwise this video is

going to end up being 20 or 30 minutes

long i've already made a step-by-step

video showing you exactly how you can

find a supplier on alibaba.com that i'm

going to link right there so you can

check that one out straight after this

one or if you rather watch a free

webinar where i explain my story as to

how i got started on ebay and how i

scaled my first ever ebay store from

zero to over three thousand dollars per

day in sales and i'm going to leave that

free webinar link down below it should

be the first one in the description and

if you enjoyed this video don't forget

to press the like button don't forget to

subscribe as well hit the bell

notification and don't forget that for

you to see any sort of results or any

sort of success with your e-commerce

business you need to take the first step

a lot of people will go on youtube watch

videos just like this and not take any

action you need to make sure that you

take the first step straight after

watching this video even if it's a small

step and before you know it you're going

to be living the life of your dreams

alright guys i'll see you on the next

one make sure you stay safe out there

peace

[Music]

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